Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
2 Summary of significant accounting policies (Continued)
2.1 Basis of preparation (Continued)
Changes in accounting policy and disclosures
(a)
New and amended standards adopted by the Group
2
2.1
(a)
HKAS 24 (Revised)
HKFRSs
Related party disclosures
Third improvement project in
2010
24
The above new and amended standards and interpretation,
which are mandatory for the first time for the financial year
beginning 1 January 2011, do not have material impact on
the Group for the year ended 31 December 2011.
(b)
New and amended standards, and interpretations
mandatory for the first time for the financial year beginning
1 January 2011 but not currently relevant to the Group
(although they may affect the accounting for future
transactions and events)
(b)
HKAS 32 (Amendment)
HKFRS1 (Amendment)
HK(IFRIC) – Int 14
(Amendment)
HK(IFRIC) – Int 19
Classification of rights issues
Limited exemption from
comparative HKFRS 7
disclosures for first-time
adopters
Prepayments of a minimum
funding requirement
Extinguishing financial liabilities
with equity instruments
32
1
14
19
7
80 HKC (Holdings) Limited • Annual Report 2011